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Search Results 0 to 10 of about 11 (some duplicates have been removed)
CSPAN
Dec 7, 2012 6:00am EST
of this medium and long term risk as the fiscal avalanche. the cliff is something we are approaching now and we can see where it is. we know will hit the cliff. the avalanche is different. the only thing you know about conditions are present. you know when the snowpack has built up to the point where it could happen. you do not know when it is going coming. once it hits you, the avalanche becomes completely impossible to control. do you agree with this characterization about the avalanche? kind of threat? that from you? >> i would be happy. >> i will give you credit. i think it is right. i do think -- that is why what important. this is a once in a generation opportunity for you to nail these things down. we're not that far apart. i really do not think we are. if you are able to put us on a credible path to fiscal sustainability, do it in a balanced way, i think we are golden. i think we will avoid that avalanche. if we do not do that, ultimately, it means we will by that avalanche. that in order to avoid the conditions? >> i do not know the answer to that. my model break
CSPAN
Dec 5, 2012 8:00pm EST
. it is in the house. the issue of the fiscal cliff, what's it mean? it is probably the most known phrase in politics. they say, you have to wait for everything. people understand you have to do a piece of the puzzle. you can do it today. the opportunity to keep this economy moving, it has done very well the last few years. we always wait for the big deal and something never happens. this is a chance for the middle class tax cut. i would encourage every day, what is holding it out? -- it up? you will see yourself getting a tax cut for the remainder of next year if we just move them forward. again, it is finished of the senate side. >> i want to thank my colleagues for the leadership on the steering committee in this area. we have senator olympia snowe, bill kristol of the weekly standard, like simpson of idaho. david brooks. walter jones. the national review. we're here to say that passing the middle class tax cut is the right thing to do. you don't need to take our word for it. 2/3 of the american public agree with us. you don't need to take that word either. listen to the speaker
CSPAN
Dec 12, 2012 1:00am EST
. something that keeps us awake at night, regarding the fiscal cliff, is what will happen in the defense sequestered. if this rolls over and there are of some of the budget cuts, and january 1, there will be relatively indiscriminate cutting across the defense budget. according to scholars, this is a very dangerous thing. can you weigh in on that? >> we have a bill i've proudly sponsored that moves those cuts to discretionary. energy and commerce was one of the committees have taxed on finding other areas to cut. we identified those things. we were attacked for wanting to cut things that people like. frankly, some of them are things people recognize we cannot afford to do. and but we lay those cuts out there. it is a bill i stand behind today. the worst thing would be to shut off the sequester altogether. we need to have a sequestration to cut spending. all would like to see a shift of the defense cuts to other parts of the budget. >> i feel the same way. i have said the only thing worse than defense cuts are no cuts of all. we may differ a little from some of her scholarship. an
CSPAN
Dec 12, 2012 6:00am EST
kinds of devices will not work. you have got to have something that is more pragmatic. the fiscal cliff has gotten more pessimistic almost every day. we really cannot go over it. there is one thing that gives me a little hope. it seems to me there are three things we almost absolutely have to fix. one david mentioned, the alternative minimum tax. right now, we have to fix it retroactively for 2012. if we do not do that, there will be over 25 million americans who will get a real shock when they do their tax returns. early. i am told they are not prepared. -- the irs is not prepared for the consistency or fixing datethey have to reprogram because they have to reprogram their computers. all sorts of other things. the other thing is that i cannot and imagine we will allow reimbursements. there will not be 50 doctors serving the medicare program. thirdly, i really think we have to fix the estate tax, which exemption. -- which goes back to 8 $1 million exemption. in my neighborhood, that is a house. i would strongly recommend that die in 2013. [laughter] i said that at an earlier meeti
CSPAN
Dec 11, 2012 8:00pm EST
portion of this hour talking about something that is on everybody's mind, the fiscal cliff. oh my goodness, the fiscal cliff is now just -- wow, 20 days away. so what are we going to do? some have suggested that we really have to deal with entitlements. and i'm here to agree that we can and we should deal with entitlements. certainly two of those issues, which i really don't think we ought to call entitlements but are fundamental programs here in america for americans, should be dealt with. one that some people want to put on the table really doesn't deal with the deficit at all, and that's social security. so before we even get into this discussion tonight, let's just understand or anybody that cares to take on this issue that in dealing with the fiscal cliff, social security is not the problem. the deficit is not caused by social security. social security has never been and in its present form, will not be part of the deficit issue. it's separate and apart. it is a special program. has its own source of revenue. has its own trust fund and isn't running the deficit at all and has
CSPAN
Dec 5, 2012 1:00am EST
next five or six months. there is a unique opportunity to governor. second, there is that fiscal cliff. it does not appear that we will see something here. that will be positive and significant. there is a billion-dollar number that is key. the revenue side, that is the key number. how do you get to that number? >> $600 billion? >> wasn't that the number two summers ago in 2011? >> i do not think so. you need the white house? >> yeah. >> we have a minute left. anyone else? >> i do not think we need to argue about the cbo right now for all the reasons we talked about. the outcomes of these experiments are uncertain. cbo cannot buy in before it knows the evidence. i strongly support what he said about leadership. this is a moment for a huge opportunity. the president needs to lead and the leaders of congress need to sit down and work this thing out. it is not that hard. we need to do it. other countries do it. we can do it. there is no reason why we should miss this huge opportunity to stabilize our that and in the -- stabilize our debt and in the process over the next few months to reform the health care system gradually and our tax code
CSPAN
Dec 12, 2012 8:00pm EST
point. is this something that can work out. like they did it wall street before the fiscal cliff hits? if we could rebuild when we're in such bad shape. host: thank you, judy. guest: repaying the money that was barred from social security. -- borrowed from social sec urity. that money will be repaid unless congress does something different. think about the $2.7 trillion as spending authority for the social security administration. they can pay full benefits under the law. that money will be paid back over time unless congress changes something. putting more revenue money into social security, right now the appetite in congress is to cut spending. that might be a difficult sell. one reason the program is popular is it is self funded through payroll taxes. there's been a temporary cut in payroll taxes over the past two years. to change the funding of the nature could be done. advocates worry about the consequences of that and making it compete with other dollars with other government programs. congress doesn't touch it and still stays there. if it is competing for scarce dollars, i
CSPAN
Dec 13, 2012 1:00am EST
toward women -- her award winning film by gathering essays. >> the fiscal cliff negotiations, with particular attention to social security. we spoke to an associated press reporter. host: our series on the fiscal cliff continues this morning with a dive into social security. here to talk about the program and how it is involved in the discussions, the negotiations over america's financial future, is stephen ohlemacher, joining us from the associated press, where he is a reporter. how much social security do people get? guest: a little more than 66 million people. the average benefit is a little over $12,000 -- a little over $1,200 a month. maybe $13,000 a year or so. host: we are talking about retirees and the disabled. guest: a fairly wide group of people receive social security benefits. retired workers, spouses, children, disabled workers, widows, widowers. a big safety net of people. host: retirees receive about $1,200 a month on average. the benefits for the disabled, $1,100 a month on average. how does social security get financed? guest: it has been a self-funded program sin
Search Results 0 to 10 of about 11 (some duplicates have been removed)